Moneyboxx Finance Limited, a BSE-listed NBFC co-founded by Deepak Aggarwal and Mayur Modi, has raised Rs 33.4 crore through a fresh equity issue of 44 lakh shares priced at Rs 76 each. This takes the company’s total equity raised since inception to Rs 303.9 crore.
The company focuses on serving small entrepreneurs in Tier-III towns and beyond a segment often overlooked by traditional banks. It offers loans ranging from Rs 50,000 to Rs 3 lakh, targeting what the industry calls the “missing middle” borrowers too small for banks but too legitimate for moneylenders.
Since acquiring Dhanuka Commercial in 2019, Moneyboxx has grown into a 160-branch network spanning 12 states. Its model combines physical branch presence with tech-driven credit assessment, allowing it to operate in areas where data on borrowers is thin.
The freshly raised capital will be directed toward growing its loan book and strengthening its risk management infrastructure both critical as it scales deeper into underserved rural markets.
